Real estate prices in Gelsenkirchen have fallen significantly

Real estate prices in Gelsenkirchen have fallen significantly

The real estate market in Gelsenkirchen is experiencing significant development as the prices for houses and apartments have fallen noticeably. According to the current real estate market report for 2023, real estate prices in Gelsenkirchen have fallen by up to twelve percent. Compared to the previous year, the number of properties sold fell from 2,474 in 2022 to 1,569 in 2023, a decrease of 37 percent. Sales also fell by 44 percent from 566 million euros to 316 million euros. The prices for building plots in Gelsenkirchen remained largely stable, while single- and two-family houses and multi-family houses recorded a price decline. Single and two-family homes fell by five percent, multi-family homes by 12 percent and the purchase price for condominiums fell by 12 percent. In addition, the city of Gelsenkirchen has banned e-scooters from the city area, which could have a positive impact on the housing market and the quality of life in the city.